AM Best has affirmed the A (excellent) financial strength rating of Sirius International Insurance Company.
The rating has been removed from under review, where it was placed following its proposed acquisition by White Mountains Insurance Group.
The rating outlook is stable, said AM Best.
The affirmation was based on the superior level of consolidated risk-adjusted capitalisation and Sirius’ leading market profile in Scandinavia, said the ratings agency.
An offsetting factor in the rating was the potential for additional loss from Scandinavia Re, a finite reinsurer run-off, which continues to negatively affect Sirius’s operating performance, AM Best said.
